Dodgers, Fox Sports Cover Their Bases on TV Rights Agreement

The agreement comes about two weeks before a deadline for potential Dodgers bidders

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An agreement announced Tuesday regarding the Dodgers' telecast rights is a "significant step" in a process that will end with the sale of one of baseball's most storied franchises, according to team officials.

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The agreement resolves television rights disputes between the Dodgers and Fox Sports, according to statements from the team and Fox Sports.

Under the agreement, the team will abandon its proposed sale of the TV rights. Fox Sports will agree to withdraw its objection to a settlement reached in November between the team and league.

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In the team's statement, the Dodgers called the resolution "a significant step towards a successful sale of the Los Angeles Dodgers."

"It resolves all of the parties' differences relating to the telecast rights agreement with Fox,'' the statement said. "This consensual resolution of all disputes between the debtors and Fox will enable the sale of the Dodgers to proceed forward, free of any uncertainty relating to the various issues under dispute, with the continued objective of maximizing value for the debtors and their estates."

Fox Sports issued its own statement, saying that Fox's media rights will remain in place.

"We look forward to working with new ownership on future television rights discussions," Fox Sports said in its statement.

A court ruling last month stayed the Dodgers from selling the TV rights along with the team.

The Fox Sports-Dodgers agreement is a key step in the team's sale, which is under a court-supervised process that began in November after Dodgers owner Frank McCourt and Major League Baseball reached an agreement. The Dodgers filed for bankruptcy in June, and MLB appointed a monitor to look after the team's finances as the team struggled through a mediocre season, despite standout performances from Matt Kemp and Cy Young winner Clayton Kershaw.

After back-and-forth filings and a series of contentious proceedings in bankruptcy court during the summer, the team and league finally agreed on a process by which the team would be sold.